H.4.1 Factors Affecting Reserve Balances of Depository Institutions

F E D E R A L R E S E R V E Factors Affecting Bank Reserves and Condition Statement of F.R. Banks H.4.1 For immediate release March 15, 1962 The average of daily figures of total member hank reserves held during the week ended March l4 decreased a net of $l4o million to $19,347 million. Estimated currency; and coin of member banks increased $96 million and their reserve balances at the Federal Reserve Banks decreased $236 million. Estimated required reserves $154 $l4 $464 decreased mi3.1ion; and estimated excess reserves increased million to million. Excess reserves exceeded member bank borrowings at the Federal Reserve Banks by $4ll million, compared with the revised figure of $360 million the week before. The principal changes reducing average reserve balances with Federal Reserve Banks were decreases of $37 million in member ban!; borrowings, $87 million in Federal Reserve float, and $48 million in gold stock, and increases of $158 mil­ lion in currency in circulation and $60 million in Treasury deposits with Federal Reserve Banks. The principal offsetting changes were an increase of $69 million in Federal Reserve holdings of U. S. Government securities, and decreases of $49 million in "other1' deposits with Federal Reserve Banks and $47 million in "other" F. R. accounts (net). Total Reserve Bank credit decreased $57 million. As of Wednesday, March l4, holdings of U. S. Government securities bought outright were $111 million lower than a week earlier, U. S. Government sec­ urities held under repurchase agreement were $28 million higher, and member bank borrowings were $284 million lower. Outright holdings of bills decreased $278 mil­ lion, and notes and bonds increased $17 million and $150 million, respectively. Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday Reserve Bank credit, Mar. 14, Mar. 7, Mar. 15, Mar. l4, and related items 1962 1962 1961 1962 (In millions of dollars) Reserve Bank credit: U. S. Government securities-- Bought outright--System account 28,463 + 44 +l,46o | 28,449 Held under repurchase agreement 39 + 25 + 34 28 Acceptances--bought outright 45 - l 3 43 Discounts and advances-- Member bank borrowings 53 - 37 + 4 63 Other 65 - 1 + 56 65 Float 1,252 - 87 + 249 > 1,198 Total Reserve Bank credit 29,917 - 57 +1,801 29,8"46 Gold stock 16,724 - 48 - 650 16,710 Treasury currency outstanding 5,590 + 3 + 183 5,591 52,230 -103 +1,332 52,147 Currency in circulation 33,066 +158 +1,165 33,073 Treasury cash holdings 441 + l + 13 456 Treasury deposits with F. R, Banks 46l + 60 + 43 490 Foreign deposits with F. R. Banks 224 + 10 - 43 215 Other deposits with F. R. Banks 234 - 49 - 155 215 Other F. R. accounts (net) 1,053 - 47 4 1,022 35,479 +133 +1,019 35,471 Member bank reserves: With Federal Reserve Banks 16,751 -236 + 314 16,675 Currency and coin (estimated) 2,596 + 96 + 206 2,901 Total reserves held 19,347 7I5o + 520 19,576 Required reserves (estimated) 18,883 -154 + 691 18,929 Excess reserves (estimated) 464 + 14 - 171 647 On March l4, 1962, U. S. Government securities held in custody by the Fed­ eral Reserve Banks for foreign account were $5,703 million, an increase of $203 mil­ lion for the week and a decrease of $l46 million from the comparable date a year ago. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.1(a) CONSOLIDATED STATEMENT OF CONDITION OF THE TWELVE FEDERAL RESERVE BANKS (in millions of dollars) Change since Mar.14, Mstx1 • T> Mar.15, 1962 1962 1961 A S S E T S Gold certificate account 15,291 - 29 - 763 Redemption fund for F. R. notes 1,147 + 3 + 111 Total gold certificate reserves 7-75 7-^52 Cash (449) 426 - 29 51 Discounts and advances 128 -284 + 69 Acceptances— "bought outright 43 - 1 2 U. S. Government securities: Bought outright— Bills 2,622 -278 40 Certificates 4,972 - 446 Notes 16,859 + 17 + 573 Bonds _3,996 +150 +. 1,349 Total Bought outright 287449 -ill + 1A 36 Eeld undei* repurchase agreement 28 + 28 + 27 Total U. S. Government securities 28,477 - 83 + 1,463 Total loans and securities 28,648 -368 + 1,530 Cash items in process of collection (1,130) 5,184 +623 + 288 Bank premises 109 Other assets 324 + 38 + 145 TOTAL ASSETS (1,579) 51,129 + 1,260 L I A B I L I T I E S Federal Reserve notes (449) 28,093 + 52 + 991 Deposits: Member bank reserves 16,675 -422 + 345 U. S. Treasurer— general account 490 + 80 + 29 Foreign 215 - 14 260 Other 215 + 10 - 145 Total deposits 17,595 -346 31 Deferred availability cash items (1,130) 3,986 +571 + 169 Other liabilities and accrued dividends ,___65 - 2 + 34 TOTAL LIABILITIES (1,579) 49,739 +275 + 1,163 C A P I T A L A C C O U N T S Capital paid in 453 + 1 + 31 Surplus 888 - - + 71 Other capital accounts 49 - 38 5 TOTAL LIABILITIES AND CAPITAL ACCOUNTS (1,579) 51,129 +233 + 1,266 Ratio of gold certificate reserves to deposit and F. R. note liabilities combined (com­ puted from figures as shown on the fol­ lowing pages --not consolidated) .35*6$ + .2$ -2.2$ Contingent liability on acceptances purchased for foreign correspondents 104 - 11 - 67 * Figures in parentheses are the eliminations made in the consolidating process; see comparable figures on combined basis on following pages. MATURITY DISTRIBUTION OF LOAFS AND SECURITIES, MARCH l4, 1962 (Acceptances and securities held •under repurchase agreement are classified as maturing within 15 days in accordance with maximum maturity of the agreements.) U. S. Government securities Changes Discounts and advances Acceptances Holdings during week Within 15 days 76 11 678 +142 l6 days to 90 days 37 32 2,909 -327 91 days to 1 year 15 12,049 - 43 Over 1 year to 5 years -- 10,348 +145 Over 5 years to 10 years -- 2,227 • - Digitized O v fo e r r FR A 1 S 0 E R y ears -- - -. 266 ... http://fraser.stlouisfed.org/ Federal Reser T ve o B t a a n l k of St. Louis 128 43 28,477 - 83

STATEMENT OF CONDITION OF “EACH FEDERAL RESERVE BARK OR MARCH l4, 1962 H.4.1(b) San Total Boston New Phila­ Cleve­ Rich­ Atlanta Chicago St. Minne- Kansas Dallas Fran­ York delphia land mond Louis apolis City cisco (In millions of dollars) A S S E T S Gold certificate account 15,291 717 3,936 821 1,230 1,076 748 2,555 600 338 694 566 2,010 Redemption fund for F. R. notes 1,147 68 270 70 102 94 68 203 50 26 49 37 105 Total gold certificate reserves 16,438 785 4,206 891 1,332 1,170 8l6 2,763 650 364 743 603 2,115 F. R. notes of other Banks 449 15 133 32 33 18 71 32 13 17 15 35 35 Other cash 426 29 84 27 34 24 30 80 22 11 13 13 59 Discounts and advances 128 12 20 5 8 3 5 4o 6 1 15 4 9 Acceptances: Bought outright 43 . - 43 - - -- -- -- -- -- — -- — -- U- S. Government securities: Bought outright-- Bills 2,622 l4o 649 151 222 166 144 448 106 56 ll4 107 319 Certificates 4,972 265 1,230 287 422 315 273 850 200 106 217 202 605 Rotes 16,859 897 4,169 974 1,429 1,067 927 2,880 681 362 735 685 2,053 Bonds 3.996 212 988 231 339 253 220 683 l6l 86 174 162 487 Total 20,449 1,514 7,036 1,643 2,4l2 1,801 1,564 4,861 1, l48 610 1,240 1,156 3,464 Held under repurchase agreement 28 — 28 - - - -- -- -- — Total U. S. Government securities 28,477 1,514 7,064 1,643 2,412 1,801 1,564 4,861 1,148 610 1,240 1,156 3,464 Total loans and securities 28,648 1,526 7,127 1,648 2,420 l,8o4 1,569 4,901 1,154 611 1,255 1,160 3,473 Cash items in process of collection 6,314 451 l,24l 374 508 448 497 1,036 286 178 324 281 690 Bank premises . 109 4 9 3 8 5 l4 24 7 5 6 13 11 Other assets 324 16 82 19 29 18 ... 19 53 12 6 14 15 41 TOTAL ASSETS 52,708 2,826 12,882 2,994 4,364 3,487 3,016 8,889 2,144 1,192 2,370 2,120 6,424 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.1(c) STATEi^ENT OF CONtJITlON OF EACH FEDERAL RESERVE BANK OF MARCH 14, 1962 San New Phila­ Cleve­ Rich­ St. Minne­ Kansas Total Boston Atlanta Chicago Dallas Fran­ York delphia land mond Louis apolis City cisco (In millions of dollars) L I A B I L I T I E S Federal Reserve notes 28,542 1,670 6,594 1,830 2,556 2,304 1,621 5,236 1, 232 581 1,178 830 2,907 Deposits: Member hank reserves 16,675 662 4, 676 739 1,188 696 855 2,503 591 loo 827 928 2,610 U.S. Treasurer-general account 190 28 69 23 33 11 30 73 29 34 43 27 57 Foreign 215 10 1/ 61 12 20 10 11 29 7 5 9 12 29 Other 215 1 l6l 2 * 1 1 3 1 * 2 * lo Total deposits 17,595 701 5795f 775“ 1,2kl 751 897 2,608 628 439 881 967 2, 736 Deferred availability cash items 5,116 387 929 304 432 361 117 838 233 139 250 2l0 586 Other liabilities and accrued dividends 65 3 16 4 5 1 1 ll 3 1 3 3 8 TOTAL LIABILITIES 51,318 2,761 12, 506 2,914 4,234 3, 423 2,9l2 8,693 2,096 1,160 2,312 2, OlO 6,237 CAPITAL ACCOUNTS Capital paid in 453 21 123 26 12 21 2! 61 16 10 19 26 61 Surplus 888 12 2l3 51 83 10 17 12l 31 20 37 5? 120 Other capital accounts lQ 2 10 3 5 . 3 . 3 8 ...1 ____ 2_ ______ 2_ 1 6 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 52,708 2,826 12,882 2,994 1,364 3, 487 3,016 8,889 2, 111 1,192 2,370 2,120 6,12! Contingent liability on accept­ ances purchased for foreign cbrre spondent s ! 101 5 2/28 6 10 5 6 ll 1 2 1 6 l4 FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding 29,762 1,729 6,882 1,892 2,709 2,385 1,712 5,360 1,288 656 1,210 897 3, 0I2 Collateral for F. R. notes: Gold certificate account 8,035 430 1,600 530 770 735 125 1,500 310 160 310 235 1,000 Eligible paper 17 -- 1 -- -- -- — 1 -- 12 — — U. S. Government securities 23,205 1, 365 5,600 1, 500 2,050 1,665 1, loo 1,100 1,010 LT\ 1—1 0 2,300 950____ .15-5- Total collateral 31,257 1,795 7,200 2,031 2,820 2,100 1,825 5,600 1,354 670 1,272 990 3,300 ^ 1/ After deducting $15l million participations of other Federal Reserve Banks. *Less than $500,000. Digitized for FRASER http://2fr/as eAr.sftltoueisrfe dd.oergd/ ucting $ 76 million participations of other Federal Reserve Banks. Federal Reserve Bank of St. Louis